MSE News: Nationwide hikes overseas charges today

edited 29 October 2010 at 4:04PM in Flights, Currency & Car Hire
16 replies 2K views
Former_MSE_GuyFormer_MSE_Guy Former MSE
1.7K Posts
I've been Money Tipped! Newshound! Chutzpah Haggler
edited 29 October 2010 at 4:04PM in Flights, Currency & Car Hire
This is the discussion thread for the following MSE News Story:

OfficialStamp.gif
«1

Replies

  • edited 1 November 2010 at 4:21PM
    chattychappychattychappy Forumite
    7.3K Posts
    ✭✭✭✭
    edited 1 November 2010 at 4:21PM
    I've had a Flexaccount since the week they were introduced (over 20 years ago).

    I would like to see NW de-mutualise so I can collect a nice bonus. Then they can compete with the others without the pretence of being different. Nationwide has stopped being different.
  • pompeyrichpompeyrich Forumite
    3.1K Posts
    Part of the Furniture Combo Breaker
    ✭✭✭✭
    Never understood the hysteria about overseas charges. I have 2 "bad" cards NatWest and Santander but have always found the rate, after charges etc. obtained to be comparable to that on the High Street. Shame NW has chosen to go down this route but a couple of % fee for for the convenience of withdrawing money from any destination around the World is surely not going to ruin anyones holiday.
  • alanrowellalanrowell Forumite
    5.4K Posts
    Part of the Furniture 1,000 Posts Combo Breaker
    ✭✭✭✭
    pompeyrich wrote: »
    Never understood the hysteria about overseas charges. I have 2 "bad" cards NatWest and Santander but have always found the rate, after charges etc. obtained to be comparable to that on the High Street.
    Because the difference was significant - based on USD and the BEST of the high street you did 3% better with Nationwide. For Natwest it was 5% difference.
  • chattychappychattychappy Forumite
    7.3K Posts
    ✭✭✭✭
    pompeyrich wrote: »
    comparable to that on the High Street

    Yeah, but that's not much to compare against.

    Credit cards like Zero work out pretty good. No forex loading, no cash advance fee. Just interest from the date of transaction. Pay a few days after your ATM withdrawal and this is tiny. Even if you wait a couple of weeks, it's still only about 1%.
  • aptapt Forumite
    3.2K Posts
    Part of the Furniture 1,000 Posts Name Dropper
    ✭✭✭✭
    Or compare it to the Norwich and Peterborough Gold Current account from 1 Jan which will be at least as good as Nationwide was before it started 'collecting tips' on foreign currency transactions.
  • benjusbenjus Forumite
    5.4K Posts
    Part of the Furniture 1,000 Posts
    ✭✭✭✭
    Since they have no shareholders, I wonder who's drinking all the bubbly...
    Let's settle this like gentlemen: armed with heavy sticks
    On a rotating plate, with spikes like Flash Gordon
    And you're Peter Duncan; I gave you fair warning
  • Old_GitOld_Git Forumite
    4.7K Posts
    Part of the Furniture 1,000 Posts Mortgage-free Glee! Cashback Cashier
    ✭✭✭✭
    so who is the best for foreign currency .
    "Do not regret growing older, it's a privilege denied to many"
  • ManAtHomeManAtHome Forumite
    8.5K Posts
    Part of the Furniture Combo Breaker
    ✭✭✭✭
    I went for the Halifax Clarity (credit) card - no fees, but they charge for cash advance (around 1% a month if you get the lowest rate). There are cheaper options, but this was the best generally available when NW made the announcement.

    If you have signficant savings with NW, good chance you can make more than the extra charges by moving to better accounts.
  • Nosmo_King_2Nosmo_King_2 Forumite
    136 Posts
    Part of the Furniture 100 Posts Combo Breaker
    I know they have a lousy reputation at the moment, but I suppose it may be worth considering a Santander current account with debit card if you go to Spain for your hols.
  • Yeah, but that's not much to compare against.

    Credit cards like Zero work out pretty good. No forex loading, no cash advance fee. Just interest from the date of transaction. Pay a few days after your ATM withdrawal and this is tiny. Even if you wait a couple of weeks, it's still only about 1%.

    This is what i used when i went travelling.. Never even noticed the charges if im honest..
    "If you no longer go for a gap, you are no longer a racing driver" - Ayrton Senna
This discussion has been closed.
Latest MSE News and Guides